RE/MAX Just Released the 2017 Market Outlook

RE/MAX 2017 Ontario Housing Market Outlook

Best November EVER!

722 homes sold in November 2016, 15.3% over last November and the best November since the London and St. Thomas Association of REALTORS® (LSTAR) began keeping track in 1978. "To get to the runner up for best November ever, you have to go back twenty years to 1996, when 673 homes exchanged hands," says Stacey Evoy, LSTAR's 2016 President, noting that 2016 continues to break records, scoring the best September, April, June, August, October, and now November – six months in total. Year to Date, sales are up 9.8%.

Listings were down 12.5% in November, while inventory – as represented by the number of active listings at month end - was down 36.6%. "If you have thoughts of listing your home, now is a perfect time to do so. As we have seen throughout 2016, we have a high demand with a low supply. Timing is perfect," says Evoy.

 

Just as President Stacey says it is the perfect time to sell your home or cottage and with the snow not flying here yet it is still not too late!

 

Best September EVER

866 homes sold in September 2016 with a break down of 716 detached homes and 150 condos, showing 3.1% over last September and the best September since the London and St. Thomas Association of REALTORS® (LSTAR) began systematically tracking sales back in 1978. "2016 has been a year of breaking records," says Stacey Evoy, LSTAR President. "Not only has this past month been the best September ever, we've also had record breaking months of April, June and August."

Percy Schneider - "Realtor"

Hi Everyone

Just wanted to pass along the unfortunate news Percy Schneider passed away Monday at Stratford General Hospital. He was one gentleman and a great commercial realtor for over 50 years. It was a pleasure to know him.

Lets keep him in our minds today and send our thoughts to his family 

http://www.wgyoungfuneralhome.com/index.php/obituaries/item/1129-percy-schneider

New listing at Townsend Meadows in Forest. This 1550 sq.ft. Town Home has custom oak cabinets, Engineered Flooring 1 1/2 car garage, 2 beds, 2 full baths, in floor heating and is fully wheelchair accessible. Open house Sundays 12 - 3.

July Home Sales Finish Strong

990 homes exchanged hands in July 2016, making last month the best July ever with the exception of July 2007, which set the all-time record for July with 1,009 sales. "These kinds of numbers, month after month after month, speak to the vibrancy of our current market," explains Stacey Evoy, President of the London and St. Thomas Association of REALTORS®. 807 detached homes sold last month along with 183 condos. Year-to-Date sales are up 8.2%.

Listings, on the other hand, were down 22.6% this month and Active Listings End of Period - or inventory - was down 28.2%. "It's no exaggeration to say that supply is extremely tight right now," says Evoy. "That makes this an incredibly good time to list."

 

The best-selling house style in LSTAR's jurisdiction for July 2016 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos.

The average price for a detached home Year-to-Date stood at $295,769 up 4.8%, while the average price for a condo over the same period stood at $200,292, up 5.5%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $277,660, up 5%.

Home sales set new all-time record in June

Highlights

·         Residential sales up 6.5% in June 2016 compared to a year earlier. ·         New listings in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% compared to last year. ·         The provincial average price of homes in June 2016 rose 13.9% compared to a year earlier. ·         There were just 1.9 months of inventory at the end of June 2016.

 

Unit Sales Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 28,030 units in June 2016, up 6.5% from a year earlier.   Newly Listed Units New listings on the MLS® Systems of real estate boards in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% from a year earlier.     Average House Price The provincial average price for homes sold in June 2016 was a record $544,009, rising 13.9% from a year earlier.     Months of Inventory There were just 1.9 months of inventory at the end of June 2016, down from 2.8 months from the same time one year ago. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.     View detailed report Source: The Canadian Real Estate Association. Monthly Stats Report. Please do not reply to this email. If you wish to unsubscribe to this mailing list, please click here Ontario Real Estate Association | 99 Duncan Mill Rd. | Don Mills, ON | M3B 1Z2 | 1-800-265-6732 If you have any questions, please contact orearesearch@orea.com

LSTAR's News Release for June 2016

In June 2016 a total of 1,133 homes exchanged hands. That makes last month the best June on record. "Not only are we on a roll, we are on a streak – a winning streak," says Stacey Evoy, President of the London and St Thomas Association of REALTORS® (LSTAR). "April 2016 was the best April ever. May 2016 lost out to May 2007 – the best month in the history of LSTAR – by only 7 units, and June was the best June ever." Sales were up Year-to-Date by 8.6%.

1,612 homes were listed last month, down 9.2%, and Active Listings End of Period – or inventory – was down a significant 24%. "We are still waiting for CMHC to make the final deliberation, but, from where we stand, it sure looks we're starting to move from a balanced market into a seller's market," says Evoy. "Given how tight supply is, if you were thinking of listing your home, now might be a good time to do just that."

So if you are thinking of selling here in the Grand Bend area...NOW is the time to list your home. We have been very busy these past 3 months as well and it is generally slower in July but has not slowed down. Get ready to enjoy summer and find that perfect retreat or cottage, just call RE/MAX!

RE/MAX Office Mural gets a facelift!

 The finished product

 Mark supervising.

 The artist Teresa was happy to get the mural back up!

The mural on the side of our office has been repainted by Teresa Marie and hopefully will be around for another 10 years. It does look better and fresher and we do like supporting our local artist, besides it looks good too!

RE/MAX Recreational Report for 2016

There is lots of information regarding what is happening in the recreational market here in Canada...Canadians of all ages have enjoyed time away from the city at a cabin or cottage. Find out more in our 2016 RE/MAX Recreational Property Report


http://rem.ax/1UUjfUP

99 ANNE ST. THEDFORD, ON N0M2N0

Property Site: http://tour.circlepix.com/home/T4PRCR

Great starter or retirement home in the heart of Thedford with a short walk to the bank, resturants and shopping. Newer windows and siding and the roof has just been redone. The gas fireplace in the living room heats the house and there are new carpets in both bedrooms. The sundeck is off the back door and the covered front porch is a great place to sit and watch the town from. Short drive to the sandy beaches of Lake Huron, Golf courses of Widder Station and Sandhills, Pinery Provincial Park and only 30 minutes to north London.

Bedrooms: 2

Bathrooms: 1.00

Price: $69,000

For more information about this property, please contact GARRETT PEDLAR at (519) 238-5700 or remaxgarrett@hay.net. You can also text 3690428 to 67299.

See more listings at: www.grandbendrealestate.com

MLS ID: 585546

8862 TIMBERWOOD TL LAMBTON SHORES, ON N0M1T0

Property Site: http://tour.circlepix.com/home/H9WTNK

Surrounded by nature and minutes to the Pinery Provincial Park this 3 bedroom, 2 bath ranch has a fenced in back yard, double garage, spacious 30 x 20 sundeck and has been freshly painted throughout. Close to the sandy beaches of Lake Huron and just south of Grand Bend this home features cathedral ceilings and a gas fireplace in the great room, laminate floors in the bedrooms and tile floors in the bathrooms and hallways. The custom built kitchen is very spacious and features a large island, stove top gas range, wall oven with separate warming oven and an eating area overlooking the back yard and sundeck from the bay window. The Master bedroom has lots of natural light, cathedral ceilings, great closet space and a 3 piece ensuite bath. The oversized double garage has room for cars and a work space with the unfinished basement just waiting for your ideas.

Bedrooms: 3

Bathrooms: 3.00

Price: $339,000

For more information about this property, please contact DOUG PEDLAR at (519) 238-5700 or remaxdoug@hay.net. You can also text 3681457 to 67299.

See more listings at: http://www.grandbendrealestate.com

MLS ID: 585268

9910 NORTHVILLE CR|Unit A27 LAMBTON SHORES, ON N0M2N0

Property Site: http://tour.circlepix.com/home/V7L5MA

Northlander modular home in the Oakridge Resort near Northville, south of Grand Bend. This 1 bedroom unit has been well looked after and features a spacious 16 x 10 man cave workshop out back with extra storage and fully insulated for year round use. There is parking for 2 cars and the deck out front is a great spot to watch the activity and enjoy the view from. This 45 x 12 unit has a large bay window and a patio door to let in the sunshine plus the appliances are included. There have been updates as well, like the roof, flooring and the landscaping is perfect. There are lots of activities with the shuffle board pads, clubhouse events, pools and playground for the grandchildren. The Pinery Park is close by plus the sandy beaches of Port Franks, golf courses, hiking trails and the activities around Grand Bend. Please allow 24 hour notice for all showings to make sure dog is looked after.

Bedrooms: 1

Bathrooms: 1.00

Price: $49,900

For more information about this property, please contact GARRETT PEDLAR at (519) 238-5700 or remaxgarrett@hay.net. You can also text 3656547 to 67299.

See more listings at: www.grandbendrealestate.com

MLS ID: 584298

35998 GREENWAY RD SOUTH HURON, ON N0M2K0

Property Site: http://tour.circlepix.com/home/UFNVXK

Large 5 bedroom, 3 bathroom home that consists of two separate revenue creating units only 8 KM from Grand Bend, in Greenway. Main floor unit consists of 3 bedrooms, 2 bathrooms, kitchen, living room, and laundry. The 2nd level unit consists of 2 bedrooms, 1 bathroom, kitchen, living room, and laundry as well. All appliances are included and both units have separate access doors and deck space which have all been painted recently. The home is situated at the corner of a very large lot that is just shy of an acre. Both storage sheds on the property have electricity to them. Rental units or retail store options are endless due to the location and size of the home. Parking for 10+ vehicles. Close to Parkhill, Pinery Provincial Park, numerous golf courses, Huron County Playhouse and of course the beaches of Lake Huron.

Bedrooms: 5

Bathrooms: 3.00

Price: $144,999

For more information about this property, please contact GARRETT PEDLAR at (519) 238-5700 or remaxgarrett@hay.net. You can also text 3656539 to 67299.

See more listings at: www.grandbendrealestate.com

MLS ID: 584417

Rentals for the summer months!

If you have been thinking of wanting to rent a place for the summer but just put it off till the weather got warm, you might be too late! Most cottages are rented for the summer by early April and some of the renters book their place a year ahead, when they rent for their week.
But there are still some great places available for summer weeks as we have sold places and the new buyers want to rent them part of the season to help pay for taxes and expenses. This link is to one of those places, where the whole summer is not full, so get ready for summer at the Bend and give these folks a call.

Contact:  Paulbedford@renthuron.com

Website: www.renthuron.com

 

Best April EVER

A resounding 1,068 homes exchanged hands in April 2016, up 10.8% over April 2015. "This makes last month the best April on record," says Stacey Evoy, President of the London and St Thomas Association of REALTORS®. "The only other April to crack the one thousand mark was April 2010, when 1,017 homes sold." Year-to-Date sales are up 10.7% over last year.

1,650 homes were listed in April, down 14.2%, and Active Listings End of Period – or inventory – was down 23.3%. " According to Canada Mortgage and Housing Corporation's Senior Market Analyst Anthony Passarelli, current market conditions are starting to resemble the seller's market conditions in 2003-2007, when quarterly prices were up 6 to 9% from the same period a year earlier," says Evoy. "Our relatively low inventory of listings seems to support the idea that we may, in fact, be moving towards a seller's market. All that adds up to now being a very smart time to list your home."

The good news extended beyond London's city limits. The City of St. Thomas also had an outstanding April. 86 homes sold in St. Thomas last month, compared to the 77 sold the previous April. The average price of a home in St. Thomas so far in 2016 stands at $219,560, up 1.3%.

The best-selling house style in LSTAR's jurisdiction for April 2016 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year-to- Date stood at $290,773 up 3%, while the average price for a condo over the same period stood at $196,903, up 3.7%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $272,663, up 3.1%.

7480 DUNE DR PORT FRANKS, ON N0M1T0

Property Site: http://tour.circlepix.com/home/FBZ2VU

Year round home in Port Franks just steps to the beaches of Port Franks situated on a large double lot in Windsor Park. Mature pines surround the property for privacy with a large circle driveway and single car garage for parking. Open concept kitchen, dining and living room with updated flooring and large windows with 3 sided natural fireplace. Spacious family room with on the main floor with updated flooring and patio doors to the back yard. 2 spacious bedrooms upstairs with a den for extra sleeping space. Lots of room for entertaining throughout the home and spacious outdoor living spaces including the multiple patios and outdoor volleyball court in the side yard. Most furniture negotiable. Main beach access just a short walk away and the marina is just at the end of the street.

Bedrooms: 3

Bathrooms: 2.00

Price: $379,900

For more information about this property, please contact GARRETT PEDLAR at (519) 238-5700 or remaxgarrett@hay.net. You can also text 3590381 to 67299.

See more listings at: www.grandbendrealestate.com

MLS ID: 581933

Spring is Finally Here in Grand Bend

You know it is spring when...

• You walk down the Main Street and the store owners are cleaning up their store fronts!
• You walk down the Main Street and the new Band Shell is being built and ready for May!
• The Main beach is still littered with branches from winters storms, but the beach looks good.
• Everyone is trying to get their lawnmowers working.
• The lawns are getting rolled and fertilizer is being unloaded.
• So it is officially SPRING here in Grand Bend!!!  Come out to the beach and watch the activity.

March Homes Sales Out Like A Lion

860 homes sold in March, up 11.8% over March 2015, making last month the best March since 2006 – a good two years before the Global Financial Meltdown caused markets across North America to falter. "March 2016 may have come in like a lamb, says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®, "but, as far as home sales go, it went out like a lion." Year-to-Date, sales are up 10.8%.

1,579 homes were listed in March, down 1.7%, and Active Listings End of Period – or inventory – was down 16.6%. "Canada Mortgage and Housing Corporation predicts that 2016 will see more sales than listings," says Evoy. "If you are thinking about listing your house, this is the kind of market you’ll want to take advantage of."

 The average price for a detached home Year to Date stood at $291,281 up 3.2%, while the average price for a condo over the same period stood at $192,619, up 1.5%. The average price of all homes sold through LSTAR's MLS® Year to Date stood at $271,920 up 2.8%.

Spring Brings con artists out!

Rob Parker, in todays London Free Press says with spring officially here many homeowners are starting to think about projects they would like to have done around the home. But, watch out for the con artist and some of the scams including Roofers, Driveway sealers, Chimney sweeps and Painters, to name a few.
The "Driveway sealers" is one I am familiar with, having had a paved drive and every year, one or two would come around wanting to seal your drive. Rob says to watch out for the low price and low quality that comes with it, as the sealant may be not much more than a black coloured spray that washes away with the next rain! Find out who does the best job in your area and has the best reputation before spending money on making the lane look good for the weekend!

February Sales are Great!

The London St. Thomas Association of Realtors reported that 652 homes sold in February, up 21.9% over February 2015. "That makes last month the best February since 2008!" says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®. " Year-to-Date home sales are up 9.6%.

1,146 homes were listed in February, down 2.7%, and Active Listings End of Period – or inventory – was down 19.1%. "According to the Canada Mortgage and Housing Corporation's forecast, sales are expected to grow more than new listings in 2016," says Evoy. "If you're thinking of putting your home on the market, this would be a great time to do that."

The best-selling house style in LSTAR's jurisdiction for February 2016 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year to Date stood at $289,572 - up 2.6%, while the average price for a condo over the same period stood at $191,940, up 1.1%. The average price of all homes sold through LSTAR's MLS® Year to Date stood at $271,018 - up 2.5%.

Ontario Home Sales remain very strong in January!

The Ontario Real Estate Association reported that Residential sales in Ontario numbered 10,323 units in Jan., up 4.9% from last year. New listings declined 10.6% and the average house price for homes in the province rose to $466,050 up 11% from 2015! That price is certainly influenced from the Toronto market as prices in the London area are less than $300,000.
The sales to new listings ratio was 65.2% in January making this a slight sellers market at least in the province overall. The ratio between 40-60% is generally consistent with a balanced market, which this area has.

Market Holds Steady

Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®. said that 455 homes exchanged hands in the first month of 2016; this represented only -0.8% less for Detached and down -17.9% for Condos, for a total of -4.2% over the previous January. "You have to keep in mind that last January was the second best January Sales since 2007, so this month's stats show our market is steady"

1,053 properties were listed in January, down 11.6%, and Active Listings End of Period – or inventory – was also down 16.0%. "Our market continues to be balanced," says Evoy. "However, if you're thinking of selling, it might be an idea to list ahead of the spring rush."
In the Grand Bend area the market is considerably better than 2015, with more listings and sales everywhere, with this spring like weather. If you can remember last January we were in the deep freeze!
With the average price in London at an affordable $290,000 the spinoffs help the entire region with jobs. According to recent research conducted by the Altus Group, one job is created for every three real estate transactions and approximately $55,000 in ancillary spending is generated every time a house changes hands in Ontario. "That means 2015's home sales in LSTAR's jurisdiction spun approximately $515,130,000 into our local economy and created approximately 3,122 jobs," says Evoy. "Here, at LSTAR, we're very proud about the vital role real estate plays in ensuring the prosperity of our community."

2015 was a great year for Real Estate in our area!

2015 proved to be not only the best year for real estate in the jurisdiction of the London and St. Thomas Association of REALTORS® since 2007, but also the second best year in the history of the Association overall. 9,366 area homes exchanged hands over the course of last year, just 59 units short of the 2007 total of 9,425. "The global financial meltdown that led to the collapse of the U.S. housing market back in 2008 negatively impacted Canadian markets as well," says Carl Vandergoot, LSTAR's 2015 President. "Eight long years later, we're pretty much back on track."

A total of 7,563 detached homes sold in 2015, up 9.2% over the previous year, while condo sales, at 1,803 were up 13%. Overall, sales were up 9.9% over 2014.

"We remain in a balanced market," says Vandergoot, "but, given the relatively low supply, now would be a good time for anyone thinking about listing their home to get in the game."

Real Estate sales the Grand Bend area was great for us as well, as we had our best year since 2004, that must of been a good year too! Now with both Mark and Garrett working together with me I am looking forward to another great year in 2016. January has already been very busy. It is hard to believe Mark has been working with me for 5 years now!